The Supreme Court on Wednesday ordered the suspension of the deadline for the swapping of old to new naira notes by the Central Bank of Nigeria (CBN).
Governments of Kaduna, Kogi and Zamfara states, worried over the lingering naira scarcity due to the CBN’s naira redesign policy have dragged the Federal Government before the Supreme Court seeking a restraining order to stop the full implementation of the policy. In a motion ex-parte filed on their behalf by their lawyer, AbdulHakeem Uthman Mustapha […]
The Presidential candidate of the Labour Party, Mr. Peter Obi has appealed to Nigerians to exercise patience with the federal government and Central Bank of Nigeria over the challenges associated with the circulation of the new banknote. Obi, yesterday on Arise News Channel, noted that the currency redesign was not peculiar to Nigeria and that […]
The Central Bank of Nigeria, CBN has revealed that Nigeria’s external reserves fell by $63.62m in January.
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has stated that the recent release of three redesigned naira notes has reduced kidnapping and ransom-taking by armed men. Emefiele, speaking at the apex bank’s Monetary Policy Committee (MPC) meeting in Abuja opined that ‘kidnapping and ransom-taking have somehow reduced’ whilst applauding security agents […]
The CBN Cash withdrawal limits becomes effective today, however there are growing concerns over the slow spread and quality of three newly redesigned naira notes. The Central Bank of Nigeria (CBN) directives to Deposit Money Banks (DMOs) and other financial institutions on December 6, 2022 to ensure that weekly over-the –counter (OTC) cash withdrawals by […]
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